LOUISVILLE, Ky. (WDRB) — Louisville-based Yum! Brands is reportedly close to selling Pizza Hut as the company continues to evaluate the future of one of its most recognizable restaurant chains.
According to our partners at Louisville Business First, Yum! Brands is in talks to sell Pizza Hut to Long Range Capital, a Connecticut-based private equity firm. The report said a deal could be finalized in the coming weeks, though no agreement has been announced.
The potential sale comes months after Yum! Brands said it was reviewing strategic options for Pizza Hut. In a memo distributed in November, the company indicated it was evaluating the brand's future direction.
Pizza Hut has faced increasing competition in the restaurant industry as companies adapt to changing consumer preferences and softer demand across parts of the fast-food sector.
A sale would mark a significant change for the pizza chain, which has been part of Yum! Brands' portfolio for decades. The Louisville-based company also owns KFC and Taco Bell.
Neither Yum! Brands nor Long Range Capital has publicly confirmed a deal.
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